Palm tracks rival vegetable oils higher

Malaysian palm oil futures rose on Wednesday, tracking rival vegetable oils in Dalian Commodity Exchange and overnight gain in Chicago soyoil, recouping some of the previous session’s losses.

The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange gained 44 ringgit, or 1.13%, to 3,927 ringgit ($834.47) a metric ton as of 0235 GMT. It gained 1.06% in overnight trade.

Tags: vegetable oils, Malaysia, soyoil, palm oil, futures, benchmark contract